5. Use the following information to prepare the schedule of costof goods manufactured for Graffstone Company for the month endedJune 30.
Work in Process inventory, May 31
$12,600
Work in Process inventory, June 30
16,500
Direct materials used during June
21,000
Direct labor used during June
31,000
Factory overhead:
Indirect material
6,400
Indirect labor
9,200
Factory rent
12,000
Factory depreciation
15,000
Factory utilities
18,400
6. Information for Stanton, Inc., as of December 31 follows.Prepare a schedule of cost of goods manufactured for the year endedDecember 31.
Administrative salaries
$35,000
Depreciation of factory equipment
25,000
Depreciation of delivery vehicles
6,000
Direct labor
68,000
Factory supplies used
9,000
Finished goods inventory, January 1
57,000
Finished goods inventory, December 31
?
Factory insurance
15,500
Interest expense
12,000
Factory utilities
14,000
Factory maintenance
7,500
Raw materials inventory, January 1
5,000
Raw materials inventory, December 31
4,000
Raw material purchases
125,000
Rent on factory building
25,000
Repairs of factory equipment
11,500
Sales commissions
37,500
Work in Process inventory, January 1
3,500
Work in Process inventory, December 31
2,700
7. Last year, Wesson Company sold 10,000 units of its onlyproduct. If sales increase by 12% in the current year, how willunit variable cost and unit fixed cost be affected?
Unit Variable Cost
Unit Fixed Cost
A)
Remains constant
Remains constant
B)
Increases
Decreases
C)
Decreases
Remains constant
D)
Remains constant
Decreases
E)
Remains constant
Increases
A. Choice AB. Choice BC. Choice CD. Choice DE. Choice E
8. Last year, Gordon Company sold 20,000 units of its onlyproduct. If sales increase by 20% in the current year, how willunit variable cost and total fixed cost be affected?
Unit Variable Cost
Total Fixed Cost
A)
Remains constant
Remains constant
B)
Increases
Decreases
C)
Decreases
Remains constant
D)
Remains constant
Decreases
E)
Remains constant
Increases
A. Choice AB. Choice BC. Choice CD. Choice DE. Choice E
9. A manufacturing company has a beginning finished goodsinventory of $14,600, raw material purchases of $18,000, cost ofgoods manufactured of $32,500, and an ending finished goodsinventory of $17,800. The cost of goods sold for this companyis:A. $21,200.B. $29,300.C. $32,500.D. $47,100.E. $27,600
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